On December 31, Grubbs Company has the following account balances Accounts receivable $330,000 Allowance for doubtful accounts 4.500 crost Net credit sales, 1,500,000 Assuming Grubbs estimates 2% of its net credit sales will be result in uncollectible accounts, under the percentage of sales method Income statement method, bad debt expense for the period would be o $25,500 o $30,000 O $34,500 0 $35,000 Question 35 Table 5 On December 31, Grubbs Company has the following account balances Accounts receivable 5330,000 Alowance for doubtful accounts 4500 credit Net credt sales 1500,000 3.33 pts Assume Instead, Grubbs estimates that 10% of accounts receivable will be uncollectible Under the percentage of receivables method (balance sheet method, bad debt expense for the period would be 0 $33.000 O $37,500 $28.500